Shopify Inc. (NYSE:SHOP) Shares Acquired by CreativeOne Wealth LLC

CreativeOne Wealth LLC lifted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 123.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,643 shares of the software maker’s stock after acquiring an additional 6,992 shares during the quarter. CreativeOne Wealth LLC’s holdings in Shopify were worth $1,344,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Allianz SE acquired a new position in Shopify during the fourth quarter worth $27,000. PFG Private Wealth Management LLC boosted its holdings in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC grew its position in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in Shopify during the fourth quarter worth about $39,000. Finally, Mather Group LLC. increased its stake in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 0.1 %

Shares of NYSE:SHOP opened at $83.96 on Thursday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The company has a 50-day moving average price of $101.99 and a 200 day moving average price of $101.40. The company has a market cap of $108.71 billion, a P/E ratio of 54.17, a PEG ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. Analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SHOP shares. Morgan Stanley dropped their price objective on shares of Shopify from $144.00 to $106.00 and set an “overweight” rating for the company in a report on Wednesday. Barclays upped their price objective on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Scotiabank lifted their target price on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. UBS Group upped their price target on Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Loop Capital decreased their price objective on Shopify from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $121.51.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.